Two weeks after announcing its public offer to Nigerians, with over 500 million shares to be sold to retail investors for N169 each, MTN Nigeria Communications Plc has won the first 5G license in Nigeria.
The company won one of the two licenses on offer by the Nigerian Communications Commission (NCC) at an auction on Monday, December 13, 2021, enabling it to supply faster internet to customers and businesses. Both MTN Nigeria and Mafab beat Airtel to the licenses by reaching the 11th auction round where the bid price was set at $275.9 million for each of the licenses, above the $197.4 million reserve price.
The acquisition of the license reinforces MTN Nigeria’s commitment to delivering superior services to its customers across the country as well as its growth prospects in the coming years, making it an even easier choice for investors to participate in its retail offer.
Taking MTN’s current portfolio into consideration, market analysts have continued to encourage Nigerians to seize the opportunity of the ongoing public offer to partake in MTN’s glowing future. The acquisition of the 5G license by MTN is another indicator of what is to come for the telco in Nigeria.
At a recent Investor Forum organised to give insights into MTN Nigeria’s investment case, the public offer and business outlook, Temi Popoola, Chief Executive Officer, Nigerian Exchange Limited, encouraged Nigerians to key into the MTNN offer which, according to him, has the potential to revive the market.
Boniface Okezie, National Coordinator, Progressive Shareholders Association (PSAN), tipped MTN Nigeria as “still the best company to invest in” and asked investors to “go and invest in MTNN and keep your dividends rolling in”, while Bolaji Balogun, CEO of Chapel Hill Denham, described MTN Nigeria as “Nigeria’s strongest company in terms of dividend distribution and dividend policy”, adding, “If there is one gift you must give to a family member if there is one share they should buy, it is MTNN.”
The MTN public offer opened at 8:00 am on December 1 and is expected to close today, December 14, 2021, by 5:00 pm.
Application for the shares can be submitted online via a unique digital application platform, PrimaryOffer, administered by the Nigerian Exchange Limited, or through the issuing houses, and receiving agents (authorised stockbrokers and Nigerian banks).
